News

GBA Partners with IDRC to Close Financial Services Gender Gap

Monday 28th August 2017

IDRC logoIn its continuing effort to expand financial access to under-served segments of the Women’s Market, the Global Banking Alliance for Women (GBA) is partnering with Canada’s International Development Research Centre (IDRC) to support knowledge creation and peer learning activities.

GBA members offer women the holistic value proposition that they need to succeed: access to finance, information, education, networks and recognition for their achievements. With this partnership, the GBA aims to take its commercial approach to the Women’s Market to more financial services providers across the world through research, knowledge products and peer learning activities in partnership with IDRC’s wide network of stakeholders.

“GBA research shows that, when served well, women represent a high-potential growth opportunity for banks, with strong customer, savings and product usage growth rates, high loyalty rates, and lower risk,” GBA Chief Executive Inez Murray said. “This partnership with IDRC will be key in helping the GBA to deepen our know-how and help more and more financial services providers implement robust strategies for the Women’s Market, thereby narrowing the financial inclusion gender gap.”

IDRC supports research on financial inclusion as a tool for economic empowerment. Focusing on the needs of women and youth, IDRC invests in research that aims to: 1) foster and scale up access to and use of financial services among marginalized groups, including financial literacy; 2) inform enabling policy frameworks and remove the constraints that impede access for these groups; and 3) help financial service providers develop innovative products and services that better reflect the needs of women and youth.

“IDRC is delighted to join GBA to support research and the use of new knowledge to contribute toward Sustainable Development Goal 5. Gender inclusive financial services and products are a relevant tool to foster equitable economic empowerment and sustainable development,” said IDRC’s Regional Director Federico Burone.

In line with this work, the strategic objectives of the partnership include building financial services providers’ capacity to deliver the products and services women need, expanding and advocating for the business case for serving women across multiple stakeholders, and sharing lessons learned and best practices across the GBA network and outside it through GBA peer learning events.

The GBA is also delighted to welcome IDRC as a sponsor of its Annual Summit, which will be held in London November 14-16. For more information about IDRC and its financial inclusion efforts, visit the IDRC website.